RPG Investment Advisory LLC Trims Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

RPG Investment Advisory LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 64,271 shares of the construction company’s stock after selling 3,737 shares during the quarter. Quanta Services makes up 2.7% of RPG Investment Advisory LLC’s portfolio, making the stock its 7th biggest position. RPG Investment Advisory LLC’s holdings in Quanta Services were worth $19,162,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Quanta Services by 24.2% during the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock worth $477,000 after buying an additional 357 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Quanta Services by 12.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,803 shares of the construction company’s stock worth $468,000 after purchasing an additional 202 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Quanta Services by 7.0% in the 1st quarter. QRG Capital Management Inc. now owns 8,989 shares of the construction company’s stock worth $2,335,000 after purchasing an additional 588 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Quanta Services by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 66,231 shares of the construction company’s stock worth $17,205,000 after purchasing an additional 2,767 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Quanta Services by 2.0% in the 1st quarter. US Bancorp DE now owns 13,603 shares of the construction company’s stock worth $3,534,000 after purchasing an additional 270 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $327.37 on Wednesday. The firm has a fifty day simple moving average of $297.41 and a 200-day simple moving average of $276.44. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1-year low of $173.62 and a 1-year high of $335.00. The stock has a market capitalization of $48.32 billion, a price-to-earnings ratio of 60.40 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is 6.64%.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PWR shares. Jefferies Financial Group started coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Truist Financial boosted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.27.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.